Mixed-Use Property with Detached
New
For Sale
$535,000
1586 Skylyn Drive, Spartanburg, SC 29307
COMMERCIAL/INDUSTRIAL, Spartanburg, SC
Property Size2,466 SF
Lot Size0.59 Acres
Price / SF$216.95
Days on Market4
Property Features for 1586 Skylyn Drive
General Information
Property type
Residential
Property subtype
Office
Lot features
Corner, General Business District
Directions
East Main Street, Turn Left on Heyward, continue straight onto Skylyn.
Subdivision
Spartanburg
Standard status
Active
Size
2,466 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4457
Utilities
Heating system
Zoned, Heat Pump (Heating)
Cooling system
Heat Pump, Zoned, Central Air
Water source
Public
Amenities
front porch
hardwood floors
gas fireplace
private rear deck
direct access to Mary Black Rail Trail
Building Details
Flooring type
Wood, Tile, Linoleum
Listing Agency:
RE/MAX Reach
(864) 250-4440
Listed By:
Gerardo Trevino · License #126734
(864) 612-8366
Added: Oct 2
Changed: Oct 5
Last Checked: Oct 5 at 5:06AM
MLS# 342438
Copyright © 2026 Spartanburg Association of REALTORS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property pairs an updated brick ranch with a detached accessory dwelling on 0.59 acres. The ranch provides more than 1,866 square feet on one level, including hardwood floors, a gas fireplace, a primary suite, and two additional rooms. A covered two-car carport offers parking and storage. The 600-square-foot ADU has three bedrooms, 1.5 baths, a kitchen, laundry room, mini-split HVAC, and a private rear deck. Its recent improvements include plumbing, electrical, and a roof replacement.
Located on Skylyn Drive in Spartanburg, the property has direct access to the Mary Black Rail Trail. Spartanburg Medical Center, Gibbs Cancer Center, Drayton Mills Elementary, and Spartanburg Day School are nearby; Converse University is also minutes away. The separate buildings and multiple rooms offer a range of potential configurations, including office or treatment space, subject to applicable approvals.
Located on Skylyn Drive in Spartanburg, the property has direct access to the Mary Black Rail Trail. Spartanburg Medical Center, Gibbs Cancer Center, Drayton Mills Elementary, and Spartanburg Day School are nearby; Converse University is also minutes away. The separate buildings and multiple rooms offer a range of potential configurations, including office or treatment space, subject to applicable approvals.
Key Highlights
- Two‑building property on 0.59 acres
- 2,466 square feet total property size
- Detached 600‑square‑foot ADU with 3 bedrooms and 1.5 baths
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,840
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,800
$776.8K
Cap Rate 7%
$554,857
$554.9K
Cap Rate 9%
$431,556
$431.6K
Market Conditions
NOI Build-Up for 2,466 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$75.8K $30.72/SF
− Vacancy
−$11.0K −$4.47/SF
EGI
$64.7K $26.25/SF
− OpEx
−$25.9K −$10.50/SF
NOI
$38.8K $15.75/SF
Area
Spartanburg County, SC
Vacancy
14.55%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$776,800
Cap Rate 7%
$554,857
Cap Rate 9%
$431,556
Alternative Uses
Best Use
Healthcare Medical
$554.9K
$485.5K – $647.3K
NOI $38,840 @ 7.0% cap · market cap 7.26%
Second Best
Office B
$544.6K
$476.5K – $635.3K
NOI $38,119 @ 7.0% cap · market cap 7.13%
Theoretical Best
Warehouse
$1.91M
$1.68M – $2.23M
NOI $134,009 @ 7.0% cap · market cap 25.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
Explore this area
Business Placement
Demographics for 29307, SC
19,034
Population
8,946
Households
2.1
Avg Household Size
44
Median Age
35%
College-Educated
86%
High-School Grad
44.7 sq mi
ZIP Area
426
Density / Sq Mi
$61,330
Median Household Income
$39,543
Median Earnings
$1,043
Median Rent
$207,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A brick ranch and separate accessory dwelling provide distinct interior spaces and direct access to the Mary Black Rail Trail.
Where is this mixed-use property located?
The property is located at 1586 Skylyn Drive Spartanburg, SC.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two‑building property on 0.59 acres; 2,466 square feet total property size; Detached 600‑square‑foot ADU with 3 bedrooms and 1.5 baths
